Detail publikačního výsledku

The impact of the inflation and unemployment values from the previous period on the Phillips curve

NOVOTNÁ, V.

Original Title

The impact of the inflation and unemployment values from the previous period on the Phillips curve

English Title

The impact of the inflation and unemployment values from the previous period on the Phillips curve

Type

Paper in proceedings (conference paper)

Original Abstract

The article deals with formulation of a dynamical model which expresses the relationship between the rate of inflation and the rate of unemployment more accurately and which has become to be known as the Phillips curve. The original classic model of the relationship between the rate of inflation and the rate of unemployment which led to the Phillips curve has been replaced, in this article, by a new model expressing the real economic situation more precisely while respecting the influence of the history of the factors taken into account using so-called delay differential equations. The article also looks into the impact of the delay intervals length and the impact of inflation and unemployment values from the previous period.

English abstract

The article deals with formulation of a dynamical model which expresses the relationship between the rate of inflation and the rate of unemployment more accurately and which has become to be known as the Phillips curve. The original classic model of the relationship between the rate of inflation and the rate of unemployment which led to the Phillips curve has been replaced, in this article, by a new model expressing the real economic situation more precisely while respecting the influence of the history of the factors taken into account using so-called delay differential equations. The article also looks into the impact of the delay intervals length and the impact of inflation and unemployment values from the previous period.

Keywords

Phillips curve, dynamical model, delay differential equations, inflation, unemployment

Key words in English

Phillips curve, dynamical model, delay differential equations, inflation, unemployment

Authors

NOVOTNÁ, V.

RIV year

2013

Released

10.05.2012

Publisher

Vilnius Gediminas Technical University Press Technika

Location

Vilnius

ISBN

978-609-457-116-9

Book

The 7th International Scientific Conference Business and Management 2012

Pages from

147

Pages to

155

Pages count

12

Full text in the Digital Library

http://hdl.handle.net/

BibTex

@inproceedings{BUT91933,
  author="Veronika {Novotná}",
  title="The impact of the inflation and unemployment values from the previous period on the Phillips curve",
  booktitle="The 7th International Scientific Conference Business and Management 2012",
  year="2012",
  number="1",
  pages="147--155",
  publisher="Vilnius Gediminas Technical University Press Technika",
  address="Vilnius",
  isbn="978-609-457-116-9"
}